MyGov India QUIZ ON FINANCIAL SECTOR Answers 2022
MyGov India QUIZ ON FINANCIAL SECTOR Answers 2022

In this post, we have provided the possible questions and their solutions asked in the MyGov National Quiz on Financial Sector Answers 2022. However, you may conduct your own search for being assured about the answers.

About the National Quiz on Financial Sector:


The government of India is celebrating 75 years of progressive India and the glorious history of its people, culture, and achievements as “Azadi Ka Amrit Mahotsav”.

To commemorate the monumental occasion of Amrit Mahotsav, the Ministry of Finance, the Government of India is conducting a National Quiz on Financial Sector and mandated Arun Jaitley National Institute of Financial Management (AJNIFM) to organize the national quiz.

Arun Jaitley National Institute of Financial Management (AJNIFM) is an institute of national importance promoted by the Ministry of Finance with the Hon’ble Union Minister of Finance as the President of the AJNIFM Society. It is an institute of the Centre of Excellence for capacity building in the complex domain of finance. Apart from capacity building, AJNIFM is also engaged as a Policy Research institution in the field of financial markets, under the aegis of the Department of Economic Affairs (DEA), Ministry of Finance, Government of India – Arun Jaitley National Institute of Financial Management Research Programme.

The objective of this quiz is to celebrate the journey of the Indian Financial Sector in the last 75 years since independence in addition to promoting financial awareness among the citizen of the country. With similar objectives, the forthcoming quiz aims to encompass the holistic perspectives of the journey of the Indian financial sector including Financial/Economic Reforms, Macro-Economic Developments, Key Committees, and Reports, Government Welfare Schemes, Governments Policies, Financial Regulators and Institutions, Financial Instruments and Financial Markets.

Terms & Conditions of the Quiz:


  • The Quiz shall be open on the MyGov portal, https://quiz.mygov.in for a period of one month from 01st June 2022 to 30th June 2022.
  • The Quiz is open to Indian citizens aged 18 years and above as of 01st June 2022. The individuals working in AJNIFM & NSE (Permanent & Contractual) and their immediate family members are not eligible to participate in the Quiz. The participant is required to self-certify that he/she is eligible to take the Quiz and shall abide by these terms and conditions. They would be granted only the Certificate of Participation. The participant is required to self-certify that he/she is eligible to take the Quiz and shall abide by these terms and conditions.
  • The Quiz is available in English.
  • The Quiz will have 15 (fifteen) Multiple Choice Questions, each carrying one mark. A participant will get 5 (five) minutes to complete the Quiz. There will be no negative marking.
  • Any kind of malpractice such as impersonation, double participation, etc., will render the participation of the individual null and void.
  • Performance in the Quiz will be evaluated based on “Maximum Correct Answers in the Shortest Time”. For example, if many individuals secure 20 marks, they will be ranked based on the time taken to complete the Quiz, as electronically determined, by the MyGov. in. The individual, who has completed the Quiz at the earliest, shall be considered the best performer. After ranking the individuals with a score of 20, the individuals with a score of 19 will be ranked, and so on.
  • The best performer will be awarded a Gold Medal along with a cash prize of ‘1,50,000/- (One lakh fifty thousand rupees only). The second-best performer will be awarded a Silver Medal along with a cash prize of ‘1,00,000/- (One lakh rupee only). The third best performer will be awarded a Bronze Medal along with a cash prize of ‘50,000/- (Fifty thousand rupees only). First Rank Holder (excluding the National Winners) from each State/UTs will be awarded a cash prize of ‘15,000/- (Fifteen thousand rupees only).
  • One person will be considered for one prize only. In case of a tie, the winner of the prize will be declared by draw of lots by the Computer facilities of MyGov. The decision of AJNIFM/MyGov shall be binding to all the participants. The best performers will be awarded medals and cash prizes, while all the participants will be issued a Certificate of Participation
  • After the closure of the Quiz, and prior to the announcement of results, the winners of cash prizes will be required to provide their identity details and latest photograph. Non-submission of these details will render their participation null, and void and the next best performer will be chosen accordingly.
  • Participants who are already registered on the MyGov portal are advised to check and update their current, valid contact details (email ID and mobile number) in their MyGov profile/account, prior to playing the Quiz. All communications from the AJNIFM to the participants/ winners will be made only on the contact details available with MyGov in their system.
  • In case of any dispute, the decision of the AJNIFM shall be final.
  • By participating in the Quiz, the participant agrees to have read and accepted the above-mentioned terms and conditions.

Source: MyGov India

MyGov National Quiz on Financial Sector – Start  Date & Time:


The quiz shall open on 1st June 2022 at 11 am

MyGov National Quiz on Financial Sector – End Date & Time:


It will close at 11:59 pm on 30th June 2022

How to Attend Mygov National Quiz on Financial Sector?


To attend the National Quiz on Financial Sector, click here.

Total Number of Questions & Time:


15 Questions, 300 Seconds.

National Quiz on Financial Sector – Questions & Answers:


Please Note: The questions & answers are provided for your reference. We do not encourage the students to use any wrong way to solve the questions.

Q1. Who is the Chairperson for Niti Aayog –

  • Prime Minister
  • Chief Justice
  • Home Minister
  • President

Answer: 

Q2. In case of deflation, the government increases the rate of tax –

  • True
  • False

Answer – 

Q3. Rights issues are usually made –

  • At a price equal to the current market price
  • At a discount to the current market price
  • At a premium to the current market price
  • At the par value of the share

Answer – 

Q4. Initiatives to reduce the number of Central Sponsored Schemes (CSS) and to restore the predominance of formula based plan grants was a recommendation of ___ Finance Commission –

  • 12th
  • 12th
  • 14th
  • 15th

Answer – 

Q5. In the case of Tier-1 investments in the NPS, investments up to this amount are entitled to an additional tax break –

  • 50000
  • 100000
  • 150000
  • None of these statements are true

Answer – 

Q6. Which of these statements is true –

  • Preferred shares may have a floating dividend rate
  • preferred shares may be allowed to share a portion of the profits
  • Preferred shares may be callable
  • All these statements are true

Answer – 

Q7. Tax revenues are not included in revenue receipts –

  • True
  • False

Answer – 

Q8. How many villages are expected to be benefitted by PMAGY –

  • 36000
  • 46000
  • 44000
  • 38000

Answer –

Q9. Cost of tax collection, cost of the audit and printing notes, pension, expenditure on defense, law and order are treated as ___ of the government –

  • Government expenditure
  • Revenue expenditure
  • Non-Development Expenditure
  • All these statements are true

Answer – 

Q10. In regressive taxation, the tax rate diminishes as the amount increases –

  • True
  • False

Answer – 

Q11. The ___ should be the chairman of the Zila Parishad –

  • Sar panch
  • District Collector
  • Both 1 & 2
  • Neither 1 nor 2
  • Answer – 

Q12. Which of the following financial service companies were excluded –

  • Sole Proprietorship
  • Commercial Banks
  • Insurance Companies
  • Crepitating Agencies
  • Answer – 

Q13. While withdrawing funds from Tier-1 of the National Pension Scheme, the amount that is not being annuitized can be withdrawn –

  • Tax-Free
  • After paying a 10% tax
  • After paying a 20% tax
  • None of these statements are true
  • Answer – 

Q14. ‘Shakti Bill’, which was seen in the news recently, was Launched by which state –

  • Rajasthan
  • Maharashtra
  • Madhya Pradesh
  • Gujarat
  • Answer – 

Q15. Agricultural Income Tax revenue goes to ___ in India –

  • State Governments
  • Central Governments
  • Collected by State Governments, delivered to central government
  • Collected by Central Government, delivered to state governments.
  • Answer – 

More Quiz Answers from MyGov India:


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